Bankers have always been the first to use new technologies. Mobile technologies and the new app ecosystem are not different. Banks are investing a lot in Mobile Banking allowing their customers to manage their bank accounts remotely from their preferred smartphone.
Visa is providing in Europe a safe way to shop in the internet. You get a One Time Password by SMS on your registered mobile number to confirm your internet purchase.
HSBC is giving to their customer a Secure Key to secure access to their Internet Banking account. HSBC customers now need to have this nice calculator looking device in their pockets. They enter their PIN and get a One Time Password to access the HSBC internet website.
What if this device has been integrated securely into a SIM card? You launch the application, enter your PIN and here you get the OTP. It would replace the SMS to secure your Internet purchases and this piece of electronics.
This, would just require some bank & telco cooperation.